By Exploration and Exploitation?

Exploration involves activities such as search, variation, risk taking, experimentation, discovery, and innovation. Exploitation involves activities such as refinement, efficiency, selection, implementation, and execution (March, 1991).

What is difference between exploration and exploitation?

Exploration means that you search over the whole sample space (exploring the sample space) while exploitation means that you are exploiting the promising areas found when you did the exploration.

What is the exploration and exploitation dilemma?

This is a probabilistic problem also known as the exploration-exploitation dilemma. Each time you play you need to choose between repeating what you've done till now or to try out new movements that might get you better results. This is one of the biggest problems you need to face when learning anything.